Birmingham Midshires has launched a five year account that pays the finest rate in the market.
The five year fixed rate bond can be operated online or by post and pays a rate of 5.05% (4.94% monthly) on a minimum investment of £1.
Earlier access is subject to 365 days' loss of interest in year one, 320 days' in year two, 270 days' in year three, 180 days' in year four and 90 days' in year five. Additions are allowed whilst the issue remains open.
This bond should prove popular especially as there is flexibility for withdrawals during the term subject to a penalty.
The fact that both internet and postal options are offered is also a plus.
Four out of five Moneyfacts stars have been awarded.
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